JUDGMENT

1. The Official Liquidator (for short, OL) by way of this company application prays for initiating proceedings under Section 543 of the Companies Act, 1956 (for short, the Act of 1956) against the respondents who were Directors of M/s. Lok Vikas Finance Corporation Limited (for short, the Company in liquidation).

2. Counsel for the OL submits that on 13/04/2001, this Court had passed orders to wound up the Company in liquidation in Company Petition No. 31/2000 and the OL attached to this Court was appointed as Liquidator of the Company in liquidation with directions to take charge of the properties and assets of the Company in liquidation. The respondents were Directors of the Company in liquidation as on the date of the winding up order and Mr. Lokesh Kumar Singh, respondent No. 1 was the Managing Director.

3. During pendency of the instant company application, the respondent No. 6 was deleted from the array of respondents as notices on him remained unserved on account of the address not available with the OL and the amended cause title was accordingly taken on record.

4. The OL submits that vide letter dated 08/06/2004 he directed the Chartered Accountant Mr. NC Jain to exam